Murray & Roberts has completed the acquisition of a further 17% shareholding in the Bombela Concession Company (BCC) worth R405m, bringing its total stake in the Gautrain operating company to 50%."This acquisition was undertaken as part of Murray & Roberts’ broader capital allocation strategy," Henry Laas, group CEO, said on Friday.BCC holds the 15-year concession for operating and maintaining the Gautrain system until March 2026. Murray & Roberts expected its investment would continue to provide strong returns in the short to medium term.BCC is a special-purpose organisation appointed in 2006 by the Gauteng provincial government for the design, partial financing, build, operation and maintenance of the Gautrain. It implements its obligations through its concession agreement, which is held between the provincial government and BCC.At the incorporation of BCC, Murray & Roberts held a 25% shareholding, and in 2011 its stake in BCC was increased to 33%.All conditions precedent in relat...
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